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PITTSBURG, CALIF. — Kennedy Wilson Europe Real Estate plc has acquired the 542-unit Kirker Creek Apartments in the San Francisco East Bay submarket of Pittsburg for $96.5 million. The gated community is located at 1000 Pheasant Drive.
Kirker Creek was built in 1987. It is only minutes from the BART.
Kennedy Wilson invested $21.2 million of equity in the transaction, including closings costs and the initial capital expenditure budget. It also secured a $77.2-million, 10-year loan from Fannie Mae at 3.78 percent with interest-only for five years.